Viacom, CBS move towards merger talks

Viacom and CBS have announced both of their boards of directors have established special committees to study combining the two companies.

National Amusements, the parent company of both, released a statement saying it “supports the processes announced by CBS and Viacom to evaluate a combination of the two companies, which we believe has the potential to drive significant, long-term shareholder value”.

Reports of a possible merger of the two companies first began mid-January.